Bank of America: Ferrari’s performance is expected to remain solid

Glonghui July 6｜Bank of America Securities analysts wrote that Ferrari's second-quarter performance is likely to be solid, with an EBIT margin of 30.5%, compared to an average expectation of 30.6% and 29.7% in the first quarter. The bank expects that a stronger product mix and slightly higher average selling prices will provide support. Sales volume is expected to decline slightly as the 296 GTB is being phased out and the 849 Testarossa and Amalfi are only beginning to be gradually introduced. "We expect FY2026 estimates to be raised slightly, either in terms of revenue or EBIT margin." Bank of America added that the company has announced the launch of the new limited-edition 12Cilindri Manuale, which should help offset risks related to the Luce electric vehicle. The bank raised its target price for the stock from €350 to €400 and maintained a Buy rating. The share price rose 2.3% to €338.90.